Hartline Investment Corp Reduces Stake in Shopify Inc. (NYSE:SHOP)

Hartline Investment Corp lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 48.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,851 shares of the software maker’s stock after selling 2,716 shares during the period. Hartline Investment Corp’s holdings in Shopify were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Private Wealth Management Group LLC purchased a new stake in Shopify during the 4th quarter worth about $26,000. SJS Investment Consulting Inc. increased its holdings in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. DSM Capital Partners LLC purchased a new position in shares of Shopify in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new position in shares of Shopify in the 4th quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP increased its holdings in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after acquiring an additional 391 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 1.3 %

NYSE:SHOP traded up $0.90 during trading hours on Friday, reaching $67.63. The company’s stock had a trading volume of 6,437,763 shares, compared to its average volume of 10,197,516. The company has a market cap of $87.15 billion, a price-to-earnings ratio of -396.76, a price-to-earnings-growth ratio of 3.35 and a beta of 2.30. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The business’s 50-day moving average is $63.73 and its 200-day moving average is $72.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Equities research analysts predict that Shopify Inc. will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SHOP. Scotiabank dropped their price objective on Shopify from $80.00 to $75.00 and set a “sector perform” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. Morgan Stanley upgraded Shopify from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $85.00 in a research note on Friday, April 19th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Finally, DA Davidson dropped their price target on Shopify from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.